A recent report shows significant decreases in rent prices for one-bedroom apartments. Median rents have dropped, giving renters more options. The decline is attributed to a large supply of newly built apartments.

Further details are available from the report, which also notes that new construction is slowing down. This trend may continue as existing units are absorbed.

Rent prices for one-bedroom apartments have fallen by over 10% in some areas, with median rents now at $1,520 in one city and $890 in another.